Westfield (Mass.) Contributory Retirement System hired The Boston Co. Asset Management and Iridian Asset Management to each manage $5.5 million in active domestic midcap equities.
Raymond Depelteau, chief investment officer for the $180 million pension fund, said in an e-mail that funding for the allocation is coming from terminating a passive domestic midcap equity strategy managed by State Street Global Advisors. Mr. Depelteau added SSgA still manages other index strategies for the system.
The RFP was issued in May. Quantitative Management Associates was the other finalist.